Movement Alert|GE Aerospace Rises 3.03% in Regular Trading, Farnborough Airshow Orders and Analyst Upgrades Drive Rally

Market Focus
07/24

On July 24, GE Aerospace rose 3.03% in regular trading, trading at $359.36/share, with turnover of $177 million.

On the news front, the company wrapped up the Farnborough Airshow with commitments for approximately 1,800 engines, including the largest LEAP agreement ever with IndiGo. Additional orders included GEnx engines for AerCap's 15 Boeing 787-9s, Philippine Airlines' 15 Boeing 787-10s, National Airlines' 7 cargo plane engines, BBAM's 30 CFM LEAP spare engines, and 10 CF34-10A engines for SPDB Financial Leasing supporting COMAC C909 aircraft in China.

Multiple investment banks raised price targets in recent days. JPMorgan lifted its target from $335 to $400 maintaining Overweight, Bernstein adjusted to $421 from $405 with Outperform, and Argus raised to $395 from $355. The analyst consensus mean target now stands at approximately $399.90.

Additionally, GE Aerospace and UK Export Finance launched a 750 million pound engine maintenance financing program, while a sustainment MOU was signed with Magellan Aerospace for F414 military engines.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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